British Columbia's minister of finance is promising the Pandemic Recovery Benefit will be deposited into residents' bank accounts before Christmas.

Today, Selina Robinson announced the details of how to apply for the benefit, which was an NDP election campaign promise, of a tax-free payment of $1,000 dollars to families and $500 dollars to individuals.

Families earning between $125,000-$175,000 will receive reduced amounts on a sliding scale. The same is true for individuals earning between $62,550-$87,500. Robinson says the application process will be simple and the benefit will be paid by direct deposit.

Minister of Finance Selina Robinson:

Those who cannot apply online will be able to apply through a designated phone number, starting on Dec. 21. Robinson estimates 3.7 million British Columbians will be eligible for the one time payment. The payout will cost the government $1.7 billion dollars.